Tron Price Analysis: No Green Signal as TRX flows below the Pivot Point

The price of the coin is hovering below the pivot point of $0.156 and is continuously moving away from this point. If the token does not cross the pivot point, then it will not be able to get itself out of the bearish zone.

Tron News and Events

The founder of Tron, Justin Sun has said in his tweet that Tron integration has been added to the Android app of Opera Web browser:

The Opera web browser has added #TRON integration to its Android app. Now Android users can interact with #DApps on the #TRON #blockchain in the @opera browser. This could increase #crypto visibility among the browser’s millions users.

 

An event of Tron related to Cross-chain project will be held on 15th Nov 2019:

The #TRON cross-chain project will be available on Nov. 15th.

Coin Statistical Data

  • The market cap of the coin is standing at $1,033,780,460 USD out of the whole market cap of the cryptocurrency.
  • $769,277,835 USD is the 24-hour volume of the token.
  • Circulating supply of the token is 66,682,072,191 TRX while total supply is 99,281,283,754 TRX.

Tron Price

The price value of the coin at the time of writing is standing at $0.015484 USD and 0.00000188 BTC with the change of -0.97% in 24 hours.

TRX Price Forecast

Tron is still trading in the bearish trend. The coin has even gone below its pivot point of $0.0156. And the token is constantly going away from the pivot point. The coin is trying to recover but has not got an edge in this regard. After studying the resistance and support levels of the coin, it seems that it may remain in the bearish trend in the upcoming days.

Tron Price comparison

During the last six months, the coin has shifted its movement from the bullish trend toward the bearish trend. The coin was trading well at the figure of $0.040 on 24th Jun 2019. But after that, the price of the coin started to flow in the downward direction and has been constantly showing bullish behavior. On 24th Sep 2019, the token even decreased down to the lowest point of $0.12. In the duration of these six months, the price of the coin has decreased down by -64.42%.

The six-month price comparison chart of the token is shown below:

Conclusion

Tron is not giving positive signs for the bullish trend as the coin still shows its continuous bearish performance. As for as the coin is in the reddish zone, there is no chance of a bullish rally.

Leah Hutton

Leah Hutton has recently joined Tokenhell team as a freelance writer. She has comprehensive knowledge of blockchain and various cryptocurrencies.

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